SEC Rule 30e-3
In mid-2018, the SEC voted to approve Investment Company Act Rule 30e-3, which will modernize fund shareholder report delivery to the benefit of 100 million US fund shareholders. Under the rule, funds may deliver shareholder reports by making them publicly available on a website, free of charge, and mailing investors a paper notice each time a new report is available. Funds are required to deliver a paper version of the full shareholder report to any investor requesting it. ICI supports the SEC’s actions, which will vastly increase savings for fund shareholders.
Regulatory Developments
Statements and Comment Letters
ICI Strongly Commends SEC Action to Modernize Fund Shareholder Report Delivery
Rule 30e-3 Will Produce Substantial Cost Savings for Shareholders Washington, DC, June 5, 2018...
ICI Comment Letter to SEC on Investment Company Reporting Modernization (pdf)
ICI Urges SEC to Take Action to Ensure Fund Shareholders Benefit from Web Delivery of Fund Reports
Calls on FINRA to Assume Responsibility for Processing Fees to Ensure Fair Treatment of Shareholders...
ICI Comment Letter on Investment Company Reporting Modernization (pdf)
ICI Memos
January 12, 2023
Memo #34801
SEC Proposes to Expand Order Execution Disclosures Under Rule 605 of Reg NMS
On December 14, 2022, the Securities and Exchange Commission (SEC or "Commission") issued a proposal ("Proposal") to update the disclosure required under Rule 605 of Regulation National Market System ("Reg NMS") that would: (1) expand the scope of entities...
Court Challenge to Rule 30e-3
- Twin Rivers Opinion (pdf)
Aug 16, 2019
- Twin Rivers Reply Brief (pdf)
Jan 29, 2019
- ICI and IDC Brief in Support of Respondent SEC (pdf)
Jan 7, 2019
- SEC Brief Responding to Petition for Review of Rule 30e-3 (pdf)
Dec 20, 2018
- SEC's Motion for Extension of Briefing Schedule (pdf)
Nov 6, 2018
- Amicus Brief of Public and Private Companies, Nonprofit Organizations, and Labor Unions in Support of Petitioners (pdf)
Nov 13, 2018
- Twin Rivers Opening Brief (pdf)
Nov 6, 2018
- Twin Rivers Petition for Review in Opposition to Rule 30e-3 (pdf)
Aug 3, 2018